A New House Decision Essay

379 words - 2 pages

Buying a house is such a stressful process and I know that I am not going to go through this process again and while pregnant as well. Currently I live in an apartment and with the babies clothing I have to move somewhere else. So we’ve determined that we are going to buy a house. I think that out of the 10 principles I can see myself fitting into each one of those principles. However, the one that would fit me is the “People Face Trade-offs.” I am living in an ...view middle of the document...

An example of decision making are the cost of something is what you give up to get it. I know a lot of things you have to work hard to get them. When my fiancé was in college I would have to work hard in order to provide for my child that we had together. I was in Virginia and he was in Ohio. So in order to make sure that my son was fed I would have to not pay the gas bill or the cable bill. It’s nothing like running out of money but knowing that it is going to help you in the long run when taking care of important things. Another example of working of the economy is when the government prints too much money. Inflation increases the prices in the economy. This is what we are experiencing now. Even though the housing market has gone down the cost to buy something new has gone up. Prime example would be a gallon of milk or the cost of gas.
The decision to purchase a home would be a little more challenging in terms of trying to find the best house to fit your budget. When buying a house people have to weigh out what they are going to be gaining and what they are going to be losing which is known as the marginal benefit. So you are going to gain more freedom than what you have in your current apartment.

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